16 December 2017
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MPOS provider SumUp launches European expansion programme

05 September 2017  |  4700 views  |  1 Source: SumUp

SumUp, the leading mobile point-of-sale provider, launches its service in 15 new European countries and expands to a total of 31 countries on three continents.

As of today, small business owners in Finland, Greece, Lithuania, Norway and Slovenia and can take card payments with their phone and the SumUp Air card reader without any monthly fees or contractual obligations. The rollout in Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Hungary, Latvia, Luxembourg, Malta and Slovakia will be completed by the end of October.

This major global expansion doubles the number of markets SumUp operates in and will further push the company’s growth. SumUp reached profitability last summer, exceeded $100 million in annual revenue and currently processes more than 100,000 card transactions every day. Serving cafés, beauty salons and mobile businesses in 31 countries on three continents with more than 500 employees globally, SumUp underscores its position as global leader in card acceptance.

Daniel Klein, CEO of SumUp said: “We want to help business owners in our 15 new markets to grow their business - offline and online. Across Eastern Europe, we see a strong shift in payment behaviour from cash to card. While the UK is close to saturated with 80% of all transactions made by card, for SumUp’s new countries, the share of card transactions is closer to 25% and growing rapidly from less than 15% only five years ago.” He adds: “We are very excited that today’s expansion will further boost our new merchant growth. More than 2,000 businesses join SumUp every single day. The global expansion will accelerate our growth further.”

SumUp also plans to scale existing partnerships across the new markets. The company has successfully built a strong partnership portfolio across Europe, including Metro Cash & Carry, Unicredit, UBS, Tupperware and mytaxi. Strategic partnerships with big players in the 15 new markets will be announced soon.

 

Comments: (1)

Phil Cowley
Phil Cowley - IRIS software - Datchet, Berks | 06 September, 2017, 12:31

80% of all transactions made by card in the UK.  No way, particularly in the SME payments receivable market.

Interested in the source for the 80% comment?

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